What Investment Bankers Really Want from Employers in 2025

With the financial landscape experiencing recalibration and renewed momentum, investment banking continues to be one of the most rewarding – yet demanding – sectors within financial sciences and services.  

According to our newly released USA Financial Sciences & Services Talent Report 2025, some of the industry’s top earners sit in investment banking, but their satisfaction levels don’t always match their compensation. Paired with exclusive insights from our Searching Smarter podcast, featuring Brianne Sterling, Head of Investment Banking Recruitment at Selby Jennings USA, this article provides a candid look at what’s shaping investment bankers’ career decisions in 2025, and how employers can respond. 

Why investment bankers are earning more but feeling less satisfied 

Investment bankers were more likely to have been awarded a salary increase worth at least 16% of their base salary over the past year compared to any other sector. But it’s important to contextualize that figure. 

As Brianne explains on the podcast, the sector saw significant salary hikes in 2021 to counteract burnout and promote retention. Since then, those elevated base salaries have largely plateaued, with promotion slowdowns compounding the issue. “Banks haven’t really seen a reason to elevate those base salaries further,” she notes. As a result, nearly half of investment bankers didn’t receive any salary increase at all last year. Those who did likely made an external move. 

Investment banking bonuses are rising, but so are expectations 

Bonuses remain a hallmark of investment banking compensation, with 79% receiving one according to our survey results – among the highest across the industry. Even more striking, 19% of respondents reported bonuses worth more than 101% of their base salary. 

Still, nearly 4 in 10 investment bankers said their bonus didn’t meet expectations, making them one of the least satisfied sectors when it comes to variable pay. Brianne attributes this gap to high expectations built on year-end deal activity and the “recency bias” that can amplify disappointment when final numbers don’t reflect recent performance surges.  

For more information on salary and bonus benchmarks, download our Global Investment Banking Salary Guide. 

How equity and remote work are influencing investment bankers’ careers decisions 

Nearly half (45%) of investment banking professionals said they received equity as part of their package, underscoring a trend toward long-term incentives – particularly at publicly traded firms. However, flexibility remains a sticking point. Just 53% were offered remote working options, significantly behind other sectors. Even for those with flexible arrangements, most only work remotely one or two days per week. 

That’s at odds with employee priorities: 67% of investment banking professionals say flexible working is important or very important when considering a new role. As return-to-office mandates increase, this misalignment may drive attrition, especially among mid-level talent. 

Top reasons investment bankers are switching firms in 2025 

Above all else, a low or no bonus and career progression are the two biggest reasons investment bankers would leave their firm – cited by 68% and 65% of respondents respectively. It's clear that professionals are not just chasing comp – they’re seeking upward mobility and meaningful growth. In tandem, company reputation is another powerful pull factor, with investment bankers more likely than any other group to be swayed by a stronger brand name. 

How to attract and retain top investment banking talent 

With bonuses under scrutiny, some promotions on pause, and flexibility lagging behind, top talent in investment banking is increasingly selective. As Brianne shares, even well-compensated bankers are willing to move for better alignment between effort and reward. “It’s smart to always be watching who’s closing deals, what types of platforms are winning the day, and why,” she advises. 

If you want to retain your best people – and attract those rethinking their next move – compensation alone won’t cut it. Investment bankers are looking for a full package: clear bonus structures, tangible career paths, workplace flexibility, and a brand that reflects their ambitions. 

To find out how the investment banking talent team at Selby Jennings can support your hiring or career goals, learn more about our investment banking talent services, explore the latest investment banking jobs, or request a call back today. 

More investment banking talent insights from Searching Smarter 

Hear more from Brianne Sterling in the Searching Smarter podcast – watch the full episode here. You can also listen on Spotify, YouTube, Apple Podcasts, or wherever you get your podcasts.​